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Sam Bankman-Fried convicted of $10 billion fraud as his parents look on in tears, capping crypto king's epic fall
[NYPOST] A Manhattan federal jury has convicted Sam Bankman-Fried of stealing $10 billion from users of his crypto exchange and lying to lenders and investors — capping a fall from grace for an ex-billionaire who was once viewed as one of the crypto world’s brightest stars.The 31-year-old disgraced tech mogul was found guilty of all seven fraud and conspiracy charges stemming from a scheme to swipe money from users of his FTX exchange to pay off debts at his failing hedge fund Alameda Research and purchase lavish real estate. Bankman-Fried, wearing a gray suit and purple tie, stood calmly with his hands folded across his lap as the verdict was read in a packed Manhattan federal courtroom Thursday night. As he was led out of the courtroom, he looked over his shoulder and gave a quick nod to his distraught parents, Stanford Law School professors Barbara Fried and Joseph Bankman, who had walked up to the first row of the court gallery to try to speak with him. Related: Sam Bankman-Fried: 2023-09-22 Dem Superlawyer Marc Elias Represents PAC Secretly Funded by SBF Sam Bankman-Fried: 2023-09-20 Suit alleges Sam Bankman Fried’s parents were part of massive FTX scam Sam Bankman-Fried: 2023-08-22 Jonathon Turley - Democrats aren't laughing about the Hunter Biden debacle anymore Posted by: Fred 2023-11-03 |
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